Business

At OS Accounting our partners have over 60 years of combined experience in looking after Small and Medium Businesses, and in that time we think we have seen everything and helped improve and expand our client’s businesses.

We know how to look after individuals who have taken the brave step of being self employed, right up to national groups with multi million pound turnover, we have a large skill base to draw upon and are able to offer support for the business’s activities as well as being trusted advisors to it’s directors and owners. We also offer wide ranging support for the owners of businesses and their family, to give an all inclusive service under the same familiar banner.

Our firm can support you, your business and your family from it’s first steps right up to its peak, and through any succession planning and eventual retirement planning. We have a high quality network who work closely with us if you also need financial planning or legal advice.

How much does it cost to hire an accountant for a small business?

Every business is different, and accountants have traditionally charged on a time basis. Even when an accountant is offering a fixed fee this will be based on prior knowledge of your industry, or of your business knowing how much time it takes to look after your affairs. We offer a fixed fee on a year by year basis, after reviewing your records and a meeting to understand your expectations and what you will need.

What do accountants do for businesses?

Most people think that an accountant is there to keep your company or business compliant with the law and calculate your taxes for each year. In reality, an accountant not only looks after your compliance but will advise you on a huge range of topics, including business growth opportunities, financial planning and budgeting, as well as general business coaching. A qualified accountant in practice will have spent their entire career talking to business owners and building a professional network, so is ideally positioned to give you a jump start into the business world, and help you solve the obscure problems life in business throws at you.

Do I need to hire an accountant for a business?

There is no legal or statutory requirement for a business or company to hire an accountant, however they will be at a significant disadvantage if they do it on their own. A qualified accountant will have years of experience, that simply cannot be gained through running one business, as well as in depth knowledge of how to navigate the rules, regulations and laws, as well as knowing how to professionally talk to HMRC. Having your accounts prepared by a properly qualified accountant will give reassurance to any investors, suppliers and customers – showing that your business is serious about doing things properly.

How do I find a good accountant?

There are so many different things to consider when choosing an accountant such as:

Are they qualified and regulated by a recognised accountancy body like the Institute of Chartered Accountants in England and Wales (ICAEW), or the Association of Chartered Certified Accountants (ACCA)?

Are they up to date and current members of their regulating institute?

How long has your accountants career been?

Do you feel they are impartial and looking to help?

Are you comfortable with talking to your accountant about your personal affairs?

A good accountant probably wont be the cheapest accountant, but will offer far better service than a budget accountant.